Tezos discussion

[Xandan]

Most probably Ethereum will become more valuable and everyone will be in winning position. There are so many ICO's ready and preparing to use Ethereum's smart contract to raise money so going up is more likely to happen. I also have invested into Tezos just small amount being at the start of month is bit hard to manage but hopefully it will last as planned for two more weeks to buy again.

[zodrag]

There is a flaw in the buying process, as there is only a text warning about the 0.1btc limit.
I sent two payments: 0.04 and 0.1btc and only the second transaction got converted into Tezos.
Does anyone know what will happen with the transaction below 0.1? I hope they will either send it back or convert it into Tezos if the wallet value is exceeding 0.1btc.

Summary
0.1400000 XBT   ->   600.00 XTZ
0.0000 ETH   ->   0.00 XTZ
XBT TRANSACTIONS
Transactions hashes
0.0400000
0.1000000

Did you read the instruction before sending your coins?

Also contributed 0.044 BTC and when checking it says

0.0442542 XBT -> 0.00 XTZ

No where it was stated clear 0.1 is the minimum, they even gave me a QR code for less.
If they wont refund AND wont convert to Tezos then its proof this is a scam.

https://tezos.ch/minimum-contribution-to-the-fundraiser.html

Thank you!

[keithers]

There is a flaw in the buying process, as there is only a text warning about the 0.1btc limit.
I sent two payments: 0.04 and 0.1btc and only the second transaction got converted into Tezos.
Does anyone know what will happen with the transaction below 0.1? I hope they will either send it back or convert it into Tezos if the wallet value is exceeding 0.1btc.

Summary
0.1400000 XBT   ->   600.00 XTZ
0.0000 ETH   ->   0.00 XTZ
XBT TRANSACTIONS
Transactions hashes
0.0400000
0.1000000

Did you read the instruction before sending your coins?

Also contributed 0.044 BTC and when checking it says

0.0442542 XBT -> 0.00 XTZ

No where it was stated clear 0.1 is the minimum, they even gave me a QR code for less.
If they wont refund AND wont convert to Tezos then its proof this is a scam.

I posted this earlier in the thread to try and let people know that I thought that .1 BTC was the minimum because they said that in the video. Really sucks that they didn't post that in big bold letters for people. They should give you a refund if you sent under the minimum. Is there a support you can email?

You are right, there was no guidance if you sent over the minimum in one transaction and then less than the minimum into the same wallet.


I set an over under of 15k BTC by the morning and it's blown by that amount

[silkblooms]

A lot of pessimism around this new coin but I thought it was definitely worth a punt so I've invested 1 BTC.  With the 1k bonus tezzies it works out I have 6,000 of them and they cost me £0.32 each.  So, let's look at some fun calcs:

IF THEY REACH £2.00::
Then I'll have a total of 6,000 x £2.00 = £12,000 (not bad)

IF THEY REACH £25.00::
Then I'll have a total of 6,000 x £25.00 = £150,000 (awesome - and not really that unbelievable when you look at other cryptos and the prices they've achieved in infancy)

IF THEY REACH £166.67::
Then I'll have a total of 6,000 x £166.67 = £1m (again not that unbelievable when you look at the ETH which is higher than this)

IF THEY REACH £217.99::
Then I'll have a total of 6,000 x £217.99 = £1.3m (that's based on the current ETH rate - could happen!)

IF THEY REACH £1,925.95::
Then I'll have a total of 6,000 x £217.99 = £11,555,700 (that's based on the current BTC rate - you never know with crypto!)

So is it worth a punt?  Of course it is!

[shannen87]

A lot of pessimism around this new coin but I thought it was definitely worth a punt so I've invested 1 BTC.  With the 1k bonus tezzies it works out I have 6,000 of them and they cost me £0.32 each.  So, let's look at some fun calcs:

IF THEY REACH £2.00::
Then I'll have a total of 6,000 x £2.00 = £12,000 (not bad)

IF THEY REACH £25.00::
Then I'll have a total of 6,000 x £25.00 = £150,000 (awesome - and not really that unbelievable when you look at other cryptos and the prices they've achieved in infancy)

IF THEY REACH £166.67::
Then I'll have a total of 6,000 x £166.67 = £1m (again not that unbelievable when you look at the ETH which is higher than this)

IF THEY REACH £217.99::
Then I'll have a total of 6,000 x £217.99 = £1.3m (that's based on the current ETH rate - could happen!)

IF THEY REACH £1,925.95::
Then I'll have a total of 6,000 x £217.99 = £11,555,700 (that's based on the current BTC rate - you never know with crypto!)

So is it worth a punt?  Of course it is!

Totally agree with you, from every aspect it's worth buying at least 6000 Tezos.

[wankle]

They've raised about 70 million USD already

[keithers]

A lot of pessimism around this new coin but I thought it was definitely worth a punt so I've invested 1 BTC.  With the 1k bonus tezzies it works out I have 6,000 of them and they cost me £0.32 each.  So, let's look at some fun calcs:

IF THEY REACH £2.00::
Then I'll have a total of 6,000 x £2.00 = £12,000 (not bad)

IF THEY REACH £25.00::
Then I'll have a total of 6,000 x £25.00 = £150,000 (awesome - and not really that unbelievable when you look at other cryptos and the prices they've achieved in infancy)

IF THEY REACH £166.67::
Then I'll have a total of 6,000 x £166.67 = £1m (again not that unbelievable when you look at the ETH which is higher than this)

IF THEY REACH £217.99::
Then I'll have a total of 6,000 x £217.99 = £1.3m (that's based on the current ETH rate - could happen!)

IF THEY REACH £1,925.95::
Then I'll have a total of 6,000 x £217.99 = £11,555,700 (that's based on the current BTC rate - you never know with crypto!)

So is it worth a punt?  Of course it is!

Totally agree with you, from every aspect it's worth buying at least 6000 Tezos.

I think this is pretty in line with what everyone is hoping. That it at least gets close to the value of ETH. I remember the crowdsale of ETH, and you got 2000 ETH per BTC then. I had a decent amount posted into the send address and then I got sidetracked and gunshy.   It's hard to look at it in hindsight though because I still bought ETH at like $5-$6 on coinbase, but sold at like $25, which was huge profit (nowhere near where it would be now).

I think you have to be in this for the long haul

[coingrow]

There is a flaw in the buying process, as there is only a text warning about the 0.1btc limit.
I sent two payments: 0.04 and 0.1btc and only the second transaction got converted into Tezos.
Does anyone know what will happen with the transaction below 0.1? I hope they will either send it back or convert it into Tezos if the wallet value is exceeding 0.1btc.

Summary
0.1400000 XBT   ->   600.00 XTZ
0.0000 ETH   ->   0.00 XTZ
XBT TRANSACTIONS
Transactions hashes
0.0400000
0.1000000

only contributions >= 0.1 BTC count. your 0.04 might be gone for good.

If the wallet will support btc too same way the Waves wallet does, then I think there might be a chance not to lose it.

As per their whitepaper, the minimum contribution should be more or equal to 0.1BTC, and any less bitcoins send their way are non-refundable, but they otherwise intend to return these transactions of lower value than 0.1 bitcoins, minus the transaction fee. But this refund will be made after the ICO is finsihed only.

[Münzpräger]

While the amount of money they have raised so far is absolutely impressive, I doubt that it will continue at this rate for the remainder of the fundraiser. You have to keep in mind that the bonus is getting smaller as time passes, so it was expected that the informed investors put their money in while they get the most out of it. Buying in towards the end when there is only little bonus or none left but already hundreds of million of dollars invested would not be a good idea imo. Then again, there's FOMO, so who knows 

[keithers]

I haven't seen anywhere where there was any sort of specific Dollar amount that they were looking to raise.   It is just like a "let's see how much we can raise"   or was there any sort of soft target at least? 

I would definitely say that it has been a huge first 12 hours for the Tezos team.   That earlier popcorn .gif perfectly depicts what the couple is probably doing right now...wouldn't you?

[xmrex]

A lot of pessimism around this new coin but I thought it was definitely worth a punt so I've invested 1 BTC.  With the 1k bonus tezzies it works out I have 6,000 of them and they cost me £0.32 each.  So, let's look at some fun calcs:

IF THEY REACH £2.00::
Then I'll have a total of 6,000 x £2.00 = £12,000 (not bad)

IF THEY REACH £25.00::
Then I'll have a total of 6,000 x £25.00 = £150,000 (awesome - and not really that unbelievable when you look at other cryptos and the prices they've achieved in infancy)

IF THEY REACH £166.67::
Then I'll have a total of 6,000 x £166.67 = £1m (again not that unbelievable when you look at the ETH which is higher than this)

IF THEY REACH £217.99::
Then I'll have a total of 6,000 x £217.99 = £1.3m (that's based on the current ETH rate - could happen!)

IF THEY REACH £1,925.95::
Then I'll have a total of 6,000 x £217.99 = £11,555,700 (that's based on the current BTC rate - you never know with crypto!)

So is it worth a punt?  Of course it is!

Totally agree with you, from every aspect it's worth buying at least 6000 Tezos.

I think this is pretty in line with what everyone is hoping. That it at least gets close to the value of ETH. I remember the crowdsale of ETH, and you got 2000 ETH per BTC then. I had a decent amount posted into the send address and then I got sidetracked and gunshy.   It's hard to look at it in hindsight though because I still bought ETH at like $5-$6 on coinbase, but sold at like $25, which was huge profit (nowhere near where it would be now).

I think you have to be in this for the long haul

do u calculate the total supply you genius

[Taro_Naza]

I haven't seen anywhere where there was any sort of specific Dollar amount that they were looking to raise.   It is just like a "let's see how much we can raise"   or was there any sort of soft target at least? 

I would definitely say that it has been a huge first 12 hours for the Tezos team.   That earlier popcorn .gif perfectly depicts what the couple is probably doing right now...wouldn't you?

They are following the foot steps of ETH project

[Münzpräger]

I haven't seen anywhere where there was any sort of specific Dollar amount that they were looking to raise.   It is just like a "let's see how much we can raise"   or was there any sort of soft target at least? 

I would definitely say that it has been a huge first 12 hours for the Tezos team.   That earlier popcorn .gif perfectly depicts what the couple is probably doing right now...wouldn't you?

https://www.tezos.com/static/papers/Tezos_Overview.pdf
Page 19

Looks like they are already in the moonshot region.

[coinzoid]

I also think its price would be much lower than ico price because there is no cap.

Other icos made money because of Scarcity... There is no Scarcity when tokens are unlimited..... Lol

That argument of scarcity was thrown out the window long ago.  Going by that fallacy, Ripple should be worth zero.  It currently has a supply of 38 billion, and it's uncapped, continually increasing.  Even with 10 billion, Tezos should be valued at least 3.5x the current price of Ripple.  Meaning you'll have a decent ROI if you buy during the ICO. 

Value is not determined by the supply.  If that were the case, gold and other precious metals should be worth zero as well, because there's far more of those than the amount of of these cryptos.  Why should the US dollar be worth anything if the Federal Reserve can print an endless supply of it?

What you fail to grasp is that crypto currency like nearly endless supplies of fiat and some plentiful natural resources, derive their value not from limited supply or scarcity, but from use cases and value added to the world.  If Tezos turns out to be a useful and provides a strong use case with massive adoption, it won't matter if the supply is endless, it will have a value based on its applications.

If you don't believe me, then look at all the shitty alt coins that have limited supply but have zero use case and no one cares about them.  Just because Joe Schmoe came up with an alt coin with a tiny supply doesn't mean it should be worth anything.

Please provide a better argument, because the way I see it, the larger this ICO, the larger the mainstream coverage, and I think FOMO will be on another level.  Good luck trying to buy cheaper on the exchanges.

This is one of the most convincing explanations for me. I took the risk and expecting some good return and I have enough time. Let's see how it goes

[silkblooms]

A lot of pessimism around this new coin but I thought it was definitely worth a punt so I've invested 1 BTC.  With the 1k bonus tezzies it works out I have 6,000 of them and they cost me £0.32 each.  So, let's look at some fun calcs:

IF THEY REACH £2.00::
Then I'll have a total of 6,000 x £2.00 = £12,000 (not bad)

IF THEY REACH £25.00::
Then I'll have a total of 6,000 x £25.00 = £150,000 (awesome - and not really that unbelievable when you look at other cryptos and the prices they've achieved in infancy)

IF THEY REACH £166.67::
Then I'll have a total of 6,000 x £166.67 = £1m (again not that unbelievable when you look at the ETH which is higher than this)

IF THEY REACH £217.99::
Then I'll have a total of 6,000 x £217.99 = £1.3m (that's based on the current ETH rate - could happen!)

IF THEY REACH £1,925.95::
Then I'll have a total of 6,000 x £217.99 = £11,555,700 (that's based on the current BTC rate - you never know with crypto!)

So is it worth a punt?  Of course it is!

Totally agree with you, from every aspect it's worth buying at least 6000 Tezos.

I think this is pretty in line with what everyone is hoping. That it at least gets close to the value of ETH. I remember the crowdsale of ETH, and you got 2000 ETH per BTC then. I had a decent amount posted into the send address and then I got sidetracked and gunshy.   It's hard to look at it in hindsight though because I still bought ETH at like $5-$6 on coinbase, but sold at like $25, which was huge profit (nowhere near where it would be now).

I think you have to be in this for the long haul

do u calculate the total supply you genius

No mate, I didn't calculate the total supply because (a) I don't have a crystal ball and; (b) even if I knew what the total supply was going to be I would have no way of knowing the perceived value of each unit.

You can't really compare ETH and Tezzies to Fiat currencies with inflation because they're much more than currency.  The token value needs consideration.  

Anyway, without a crystal ball I'm just saying that it's definitely worth a punt.

[ElmetElmet]

I have a few questions:

Can I send BTC from my electrum wallet?
Do I need to imput 0.1 BTC or do I have to increase amount I want to send by fee? So instead: amout to send 0.1 should I make 0.100793 (plus fee)?
When and where will I receive my tezos tokens?

Thanks!!

I sent 1 BTC from Electrum Wallet, the fee was added automatically, so in total it was 1.0013 BTC. I got my 6000 XTZ within 30 minutes on check.tezos.com. You're welcome 

[cygan]

I have a few questions:

Can I send BTC from my electrum wallet?
Do I need to imput 0.1 BTC or do I have to increase amount I want to send by fee? So instead: amout to send 0.1 should I make 0.100793 (plus fee)?
When and where will I receive my tezos tokens?

Thanks!!

I sent 1 BTC from Electrum Wallet, the fee was added automatically, so in total it was 1.0013 BTC. I got my 6000 XTZ within 30 minutes on check.tezos.com. You're welcome 

same here. i sent 1 BTC from my bitcoin core wallet - and after ~30 mins i got my 6000 xtz

[keithers]

I think the main thing that people need to recognize before sending money to invest is:

1)  Do not send less than .1 BTC (which is the minimum) or you are basically just donating money, because I don't think there is a way to get a refund

    2) Make sure to send your BTC from a wallet and not directly from an exchange.  Problems can arise from this, and I don't think there is much support at the moment for people with issues


Also obviously make sure you are following the instructions to a T, don't just blindly send your money and then start yelling scam if there is an issue because the instructions were not properly read.

Definitely triple check your restore seed and make sure you have that written down and stored correctly.

[keithers]

A separate question....from the above post I just made (so I made it a separate post).   I read in a few articles that Tim Draper (the VC that scooped up ALL the government seized BTC), is participating in this as his first ICO that he is involved with.

Does anyone know if he is just a contributor like the rest of the masses, or if he is a main investor in the actual groundwork of the Tezos team?

If he just plans on investing BTC like a normal contribution, that current number of BTC contributed could essentially skyrocket at any moment.

[innergy]

A lot of pessimism around this new coin but I thought it was definitely worth a punt so I've invested 1 BTC.  With the 1k bonus tezzies it works out I have 6,000 of them and they cost me £0.32 each.  So, let's look at some fun calcs:

IF THEY REACH £2.00::
Then I'll have a total of 6,000 x £2.00 = £12,000 (not bad)

IF THEY REACH £25.00::
Then I'll have a total of 6,000 x £25.00 = £150,000 (awesome - and not really that unbelievable when you look at other cryptos and the prices they've achieved in infancy)

IF THEY REACH £166.67::
Then I'll have a total of 6,000 x £166.67 = £1m (again not that unbelievable when you look at the ETH which is higher than this)

IF THEY REACH £217.99::
Then I'll have a total of 6,000 x £217.99 = £1.3m (that's based on the current ETH rate - could happen!)

IF THEY REACH £1,925.95::
Then I'll have a total of 6,000 x £217.99 = £11,555,700 (that's based on the current BTC rate - you never know with crypto!)

So is it worth a punt?  Of course it is!

$25 each means 50x larger market cap.. $10B if they collect $200M at ICO - do you really believe it can go there?

Aaand... if anyone who wants tezzies participates now, who will buy later?